Sugar Daily Fundamental Analysis

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The price of sugar futures commodity exchange ICE Futures New York Thursday early morning (03/11) ending rise triggered the estimated increase in imports of sugar.

 

Analysts say the support price of sugar derived from a more bullish forecasts for the image of sugar production 2016/2017. Czarnikow trading companies said they estimate the demand for sweeteners for going beyond the request of 9.8 million tons and that for intensifying the production of sugar, needs prices persist above 20 cents per pound in the long term.

 

At the close of trading in the early hours last price of sugar futures contract for the most active contract, namely March 2017 observed increase. The price of sugar is the most active futures closed up soaring about 0.51 cents or equivalent 2.41 percent at position 21.70 cents per pound.

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The price of sugar futures on the commodity exchange ICE Futures US in New York early on Friday (04/11) sagged, eroded weakening crude prices. Traders anticipate that lower oil prices will encourage producers prefer to convert sugarcane into sugar cane than ethanol, so that the production of sugar increased and further depress sugar prices.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar futures have closed by -0.22 cents or equal to -1.01 percent at 21.48 cents per pound.

Raw sugar's movement on New York at the next trade will weaken limited by the strengthening US dollar. It has the potential to test the support level at 21.00 cents and 20.50 cents. While the level of resistance to be tested if the price increase is between 22.00 cents and 22.50 cents per pound.

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Sugar futures prices on ICE futures closed up at the end of trading early saturday weekend(05/11). Commodity prices have strengthened dollar weakness supported by the uncertainty of the US Presidential election. The US dollar slipped on Friday with anxiety ahead of the US presidential election approaching, despite a steady US employment report which supports expectations for Federal Reserve interest rate hike next month.

 

A weakening US dollar makes dollar-based commodities sugar became cheaper in other currencies. At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 was observed to rebound. The price of sugar futures the most active closed up 0.25 cents, or equivalent to 1.16 percent at 21.73 cents per pound.

 

Sugar futures to trade weak with estimated potential further strengthening of the US dollar. Prices of raw sugar futures on ICE Futures US in New York could potentially test the support level at 21.20 and 20.70 cents.

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The price of Sugar futures on the commodity exchange ICE Futures US in New York Wednesday morning (09/11) ended sharply lower triggered by the strengthening US dollar. US dollar rose overnight against other major currencies triggered the market's confidence Hillary Clinton victory in the US Presidential election.

 

A stronger dollar makes dollar-denominated commodities sugar becomes more expensive in other currencies, so the demand decreases. At the close of trading early this morning the price of sugar futures observed decline. The price of sugar futures dipped by 1.35 percent at 21.97 cents per pound.

 

Raw sugar futures in New York at the next trade limited the potential to strengthen the potential of dollar weakness if Donald Trump wins the US Presidential election. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the resistance level at 22.50 cents positions and 23.00 cents.

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Sugar futures prices closed higher on the ICE Futures exchange trading late New York Thursday morning (08/11). Commodity prices have strengthened supported higher crude oil prices. Crude oil prices closed up at the end of trading on Thursday morning, after the US financial markets bounced back following the surprise victory in the US presidential election.

Traders anticipate that higher oil prices will encourage producers prefer to convert sugarcane into ethanol than sugar cane, so the decline of sugar production and increase the price of sugar. At the close of trading early this morning the price closed up 0.14 cents, or equivalent to 0.64 percent at 22.11 cents per pound.

Analyst estimates that the price of sugar futures to a subsequent trade with a potentially weak US dollar which strengthening after Donald Trump as president. Prices of raw sugar futures could potentially test the support level Support at 21.60 cents and 21.10 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York early on Friday (11/11) ends slump depressed the strengthening US dollar. Trump expectations that policy will increase spending and inflation helped US Treasury yields rose to the highest level in more than 10 months.

A stronger dollar makes dollar-denominated commodities sugar becomes more expensive in other currencies, so the demand decreases where the price of sugar futures for the most active contract is a contract in March 2017 observed declined by 2.08 percent at 21.65 cents per pound. Tonight will be released economic data Michigan Consumer Sentiment November indicated increases. If realized, it will strengthen the US dollar.

Raw sugar futures in New York at the next trade will weaken limited to the potential strengthening of the US dollar. The price even has the the chance to test suport level at 21.15 cents and 20.65 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York Tuesday morning (15/11) ends slump hit by currency weakness Brazilian Real. Tobin Gorey, analyst at Commonwealth Bank of Australia stated weakening Brazilian Real continues to lead forward sales of Brazilian sugar mills to take advantage of better real-time pricing.

 

Brazil's real fell for a fourth day in a row on Monday as concerns over the economic policies of US President elect Donald Trump and a higher US yields prompted the central bank to intervene.

 

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar futures have closed the most active dipped by 0.32 percent at 21.63 cents per pound. Tonight will be released Data Retail Sales in October the US that indicated declining. If realized, it will depress the US dollar.

 

Analyst estimates that the price movements of raw sugar futures in New York at the next trade has the potential to strengthen by weakening US dollar. Prices may test the resistance level at 22.60 cents and 22.10 cents. While the level of support that will be tested if prices decline is between 21.10 cents and 20.60 cents per pound.

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The price of sugar futures on the commodity exchange ICE Futures US in New York Tuesday morning (15/11) ends slump hit by currency weakness Brazilian Real. Tobin Gorey, analyst at Commonwealth Bank of Australia stated weakening Brazilian Real continues to lead forward sales of Brazilian sugar mills to take advantage of better real-time pricing.

 

Brazil's real fell for a fourth day in a row on Monday as concerns over the economic policies of US President elect Donald Trump and a higher US yields prompted the central bank to intervene. At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar futures have closed the most active dipped by 0.32 percent at 21.63 cents per pound. Tonight will be released Data Retail Sales in October the US that indicated declining. If realized, it will depress the US dollar.

 

Analyst estimates that the price movements of raw sugar futures in New York at the next trade has the potential to strengthen by weakening US dollar. Prices may test the resistance level at 22.60 cents and 22.10 cents. While the level of support that will be tested if prices decline is between 21.10 cents and 20.60 cents per pound.

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The price of sugar futures on the commodity exchange ICE Futures US in New York early on Friday (18/11) ends depressed by the strengthening US dollar. US dollar on Thursday rose to a new high of 13.5 years against a basket of major currencies after the statement by Federal Reserve Chairman Janet Yellen. The dollar index, which measures the greenback against a group of six currencies, was last up 0.46 percent at 100.87.

A stronger dollar makes dollar-denominated commodities sugar becomes more expensive in other currencies, so the demand decreases. At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar futures have closed down by 0.69 percent at 20.22 cents per pound.

Analyst estimates that the price movements of raw sugar futures in New York at the next trade will weaken limited to the potential strengthening of the US dollar. It said the price may test support level at 19.70 cents and 19.20 cents. While the level of resistance to be tested if the price increase is at 20.70 cents and 21.20 cents per pound.

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The price of sugar futures on ICE Futures exchange in late New York trading the weekend early Saturday (19/11) ends slump depressed by the strengthening US dollar. The US dollar was on track for the best two weeks since 1988 against the yen and reached its highest since early 2003 against a basket of currencies, as Trump victory sparked talk of tax cuts and new investment in infrastructure to boost the US economy.

At the close of trading early on Saturday Sugar futures for the most active contract is March 2017 observed a decline. The price of sugar futures have closed by -0.07 cents or equal to -0.35 percent at 20.15 cents per pound. For the weekly one, the price of sugar fell -7.14 percent, largely depressed strengthening US dollar and increased supply in Brazil.

Raw sugar futures in New York at the next trade will weaken limited to the potential strengthening of the US dollar. It has the potential to fall down up to aorund the support level at 19.65 cents and then towards 19.15 cents.

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The price of sugar futures ends slump depressed by the strengthening US dollar. A stronger dollar makes dollar-denominated commodities sugar becomes more expensive in other currencies, so the demand decreases.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar futures have closed around -0.17 cents or equal to -0.86 percent at 19.58 cents per pound.

The US markets will be closed on Thursday and Friday to commemorate Thanksgiving Day. So Raw Sugar estimated to have limited weakening movement since there is potential strengthening of the US dollar. It has the potential to test the support level at 19.00 cents and 18.50 cents.

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The price of sugar futures on ICE Futures exchange New York weekend early Saturday (28/11) ended up pushed by positive sentiment. The increase in sugar prices supported by the weakening US dollar. US dollar fell against major rivals on Friday as investors took advantage of the withdrawal of US bond yields.

A weakening US dollar makes dollar-based commodities sugar became cheaper in other currencies. The increase in sugar prices was also driven by strong physical demand after the recent decline due to tight supplies of sugar. Dealers said that continued tight supply in Brazil for this season.

The price of sugar futures the most active closed up 0.26 cents, or equivalent to 1.33 percent at 19.84 cents per pound. Weekly ICE sugar prices still fall by 1.54 percent, largely depressed strengthening US dollar and technical corrections.

Raw sugar futures in New York at the next trade will weaken the strengthening of the US dollar with expectations of rising US interest rates. It has the potential to test the support level at 19.30 cents and 18.80 cents. While the level of resistance to be tested if the price increase is at 20.30 cents and 20.80 cents per pound.

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The price of sugar futures on the commodity exchange ICE Futures US in New York early Tuesday morning (29/11) ended up triggered by the strengthening of the Brazilian Real that undercut sales of the largest manufacturers in the world. At the close of trading yesterday the Brazilian Real currency strengthened against the US dollar. Brazil's real gained 1.1% against the dollar in recent trading.

The strengthening of the Brazilian Real is the bullish sentiment for commodity prices denominated in US dollar, making exports less attractive in the local currency. Brazil is the world's top producers of sugar. At the close of trading early this morning the price of sugar futures was observed to increase. The price of sugar futures the most active closed up 0.50 percent at 19.94 cents per pound.

Analyst estimates that the price movements of raw sugar futures in New York at the next trade will weaken by the US dollar strengthening. It has the potential to test the support level at 19.40 cents and 18.90 cents.

 

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The price of sugar futures on the commodity exchange ICE Futures US in New York Wednesday morning (30/11) sagged, eroded weakening crude prices. Crude oil prices fell as much as 4 percent in late trading on Wednesday morning (30/11) doubts eroded OPEC's agreement to cut production in order to reduce global oversupply.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar futures have closed the most active dipped by -0.28 cents or equal to -1.40 percent at 19.66 cents per pound.

Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 19.20 cents and 18.70 cents. While the level of resistance to be tested if the price increase is between 20.20 cents and 20.70 cents per pound.

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ICE sugar futures prices closed higher on late New York Thursday morning (01/12). Commodity prices gained after OPEC agreement to cut oil production thus pushing the price of crude oil soaring. Traders anticipate that higher oil prices will encourage producers prefer to convert sugarcane into ethanol than sugar cane, so the decline of sugar production and increase the price of sugar.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 to strengthen monitored. The price of sugar futures the most active closed up 0.15 cents, or equivalent to 0.76 percent at 19.81 cents per pound.

Analyst estimates that the price of sugar futures to a subsequent trade may fall because the strengthening US dollar. Prices of raw sugar futures may test the support level at 19.30 cents and 18.80 cents. While the level of resistance to be tested if the price increase is between 20.30 cents and 20.80 cents.

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The price of sugar futures on ICE Futures exchange in late New York trade on Friday morning (12/2) ended weak triggered a drop in demand of China and India. China has greatly reduced imports because governments have supplies from its warehouse. India says not anticipate the need to import this year even after two years of poor crop stored as inventory remains strong.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The most active price of sugar futures have closed sharply lower by 0.45 cents or equal to 2.27 percent at 19.36 cents per pound.

Analyst think that the price movements of raw sugar futures in New York at the next trade will weaken the US dollar strengthening. It has the potential to test the support level at 18.90 cents and 18.40 cents. While the level of resistance to be tested if the price increase is between 19.90 cents and 20.40 cents per pound.

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The price of sugar futures on ICE Futures exchange in late New York trading the weekend early Saturday (03/12) ended weaker triggered profit-taking investors. Sugar futures fell to four-month lows, as speculators closing their bullish bets on prospects for more balanced global market in the coming year.

Retraet was evidenced in a report Friday by the US Commodity Futures Trading Commission, which showed money managers continued to cut their net long bets in the week ending 29 for 168 635, a reduction of 41% from the peak in late September.

Many traders rely on the idea that the global sugar market is set to be a deficit in 2016 for the second year in a row, but analysts have argued that they have ignored all the twists and turns in the macro and sugar market fundamentals that will turn a profit this sugar.

In Brazil, the sharp decline in the price of ethanol has pushed mills to crush more cane for ethanol instead of sugar production, which leads to higher production. At the close of trading early on Saturday the price of sugar futures for the most active contract is observed decline. It closed sharply lower by 1.24 percent at 19.12 cents per pound.

Analyst estimates that the price movements of raw sugar futures in New York at the next trade will weaken by the US dollar strengthening. Prices of raw sugar futures could potentially test the support level at 18.60 cents and 18.10 cents.

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The price of sugar futures on ICE Futures exchange in late New York trading early Tuesday morning (06/12) ended weak weakening demand triggered. China, the world's largest sugar importer, have shown that they can restrict imports of the official 2016/2017 to around 1.8 million tonnes.

"If true, it means that official imports will be around 1.5 million tonnes less than we expected," according to analysts Marex Spectron. Demand has fallen in other countries such as Sudan and Egypt due to shortage of dollars.

At the close of trading this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar dipped by 0.18 cents or equal to 0.94 percent at 18.94 cents per pound.

Analysts estimate that the price movements of raw sugar futures in New York at the next trade will weaken by the US dollar strengthening. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 18.40 cents and 17.90 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York Wednesday morning (12/7) ended jumped triggered increased demand for ethanol in Brazil.Sugar futures rebounded from the lowest level in four months, a decision supported by state-run oil company in Brazil to raise the price of gasoline.

The increase in gasoline prices is positive for sugar because there will be more demand for ethanol in Brazil, pushing factories there to direct more processing of sugar cane into ethanol rather than sugar. Sugar futures observed a sharp rise and closed up by 3.01 percent at 19.51 cents per pound.

Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 19.00 cents and next towards 18.50 cents. While the level of resistance to be tested if the price is between 20.00 cents and 20.50 cents per pound.

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The price of sugar futures on the commodity exchange ICE Futures US in New York on Thursday morning (08/12) ended up still triggered increased demand for ethanol in Brazil.

The increase in sugar futures boosted by news from Brazil Petrobras to raise wholesale prices of gas and diesel by respectively 8.1 percent and 9.5 percent respectively, triggered making ethanol more competitive for the plant to produce instead of sugar.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 was observed to increase. The price of sugar futures the most active closed up 0.12 cents, or equivalent to 0.62 percent at 19.63 cents per pound.

Analysts estimated that the price movements of raw sugar futures in New York at the next trade will weaken since the US dollar also strengthening. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level between 19.10 cents and 18.60 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York early on Friday (09/12) ends slump depressed by the strengthening US dollar.

The US dollar was rise around 0.85 percent against a basket of currencies after the European Central Bank's decision to keep interest rates and reduce the purchase of bonds from April 2017. A stronger dollar makes dollar-denominated commodities sugar becomes more expensive in other currencies, so the demand decreases.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed decline. The price of sugar futures have closed the most active slumped by 0.92 percent at 19.45 cents per pound.

Analysts estimate that the price movements of raw sugar futures in New York at the next trade will weaken limited to the potential strengthening of US dollar. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 19.00 and 18.50 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York Tuesday morning (13/12) ended up slightly triggered the strengthening of the Brazilian Real. At the close of trading yesterday the Brazilian Real currency strengthened against the US dollar. USDBRL fall down around 1.18 percent at 3.3370.

The strengthening of the Brazilian Real is the bullish sentiment for commodity prices denominated in US dollar, making exports less attractive in the local currency. Brazil is the world's top producers of sugar.At the close of trading early this morning the price of sugar futures for the most active contract was observed to increase. The price rose by 0.05 percent at 19.25 cents per pound.

Analysts estimated that the price movements of raw sugar futures in New York at the next trade will weaken with the strengthening US dollar which triggered by strengthening expectations of US rate hike. Prices has the potential to test the support level at 18.75 cents and 18.25 cents.

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The price of sugar futures on ICE Futures exchange in late New York trading on Thursday morning (15/12) ended plummeted triggered the estimated increase production surplus and a rise in US interest rates strengthen the US dollar.

Sugar production in Brazil, the largest producer and exporter in the world, has soared during the current season. The industry group Unica said on Wednesday that the mill center-south of the country produces 1.1 million tons of sugar, up 61%, during the second half of November.

Brazilian factory has been geared to produce more sugarcane for sugar instead of ethanol. Production mix for the second half of last month was 47.3% to 52.7% sugar ethanol. A year earlier, the mixture was 33.1% and 66.9% sugar ethanol. At the close of trading early this morning the price of sugar futures for the most active contract observed decline. Sugar futures have closed plummeted by 3.06 percent at 18.03 cents per pound.

Analysts estimated that the price movements of raw sugar futures in New York at the next trade will weaken the US dollar strengthening. Prices of raw sugar futures on ICE Futures US in New York has the potential to test the support level at 17.50 cents and 17.00 cents.

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The price of sugar futures on the commodity exchange ICE Futures US in New York early on Friday (16/12) ended up encouraged bargain hunting and a rise in crude oil. Buying sugar futures in trading yesterday occurred after sugar prices fell 3 percent hampered peguatan US dollar after the Fed raised interest rates.

Sugar profits on Thursday also supported by rising crude oil prices, as oil prices were likely to encourage sugar mills to switch to process sugar cane into ethanol. At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 was observed to increase. The price of sugar futures closed up the most active surged by 0.53 per cent, or the equivalent of 2.94 percent at 18.56 cents per pound.

Tonight will be released the data Building Permits and Housing Starts November that indicated declining. If realized can hit US dollars. Analysts think that the price movements of raw sugar futures in New York at the next trade potentially strengthened by the weakening US dollar. It has the potential to test the resistance level at 19.10 cents and 19.60 cents

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The price of sugar futures on the commodity exchange ICE Futures US in New York Tuesday morning (20/12) ended flat ahead of the holiday season, though projections remain bearish with strong supply.

The forecast global sugar surplus is small, and a strong production data from top sugarcane producer Brazil has driven prices down. The weakening of the Brazilian real has contributed to depressed prices.

Speculators cut their net long positions in sugar again in the week to December 13, from 136 to 190 contracts, the smallest of their bullish bets since April, the data the US Commodity Futures Trading Commission showed on Friday.

At the close of trading early this morning the price of sugar futures for the most active contract is a contract in March 2017 observed a slight increase. The price of raw sugar futures has the potential to test the resistance level at 18.80 cents and 19.60 cents.